The Obama re-election campaign announced this morning that it raised a combined $43.6 million in March for the campaign and the Democratic National Committee.

The $43 million should pad the Obama campaign's fund-raising advantage over the Romney campaign, which has yet to report its April totals. But it's down slightly from the combined $53 million the president raised in March.

In an early-morning video to supporters, campaign manager Jim Messina trumpeted the 169,500 new donors and the average donation of $50.23.

But Messina also raised the specter of super PACs, with a chart showing a total of nearly $60 million in anti-Obama spending, sounding a warning to the president's supporters and acknowledging what will be a significant tactical disadvantage.